Telix shares drop after $650m convertible notes raise
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The news: Shares in Telix Pharmaceuticals fell on the ASX after the Melbourne-based biopharmaceutical company completed its $650 million raise through the issue of convertible notes.
The numbers: Telix shares were trading 2.9% lower at $19.24 each at 12:40pm AEST.
The initial conversion price of the convertible bonds was $24.78 per share, representing a conversion premium of 32.5% over the reference share price of $18.70, subject to anti-dilution adjustments.
The context: The company said the raise, announced last week, would provide funding to allow it to "execute strategic priorities and capitalise on future opportunities".
The source: ASX announcement
